Scatec ASA, a Norwegian renewable energy provider, has signed an agreement to sell the 39-megawatt Đầm Nại Wind farm in Vietnam to Sustainable Asia Renewable Assets (SARA), a platform of the SUSI Asia Energy Transition Fund. This move marks Scatec’s exit from the Vietnam renewable energy market as it seeks growth opportunities elsewhere.

Scatec will receive an upfront payment of US$27 million for its 100 percent equity stake, with the possibility of additional payments of up to $13 million, contingent on conditions met by May 2026. Scatec CEO Terje Pilskog noted that the decision aligns with their strategy to optimize their portfolio. The transaction, expected to close in the first half of 2025, includes the Đầm Nại Wind farm in Ninh Thuận province, consisting of 15 Siemens wind turbines.